Sindh Cabinet decides to write off Rs.7.2 billion old loans advanced to different government departments and organizations
Karachi, Sindh
Sindh Finance Department is unable to trace and recover the loans worth Rs.174.863 million granted to private parties by the provincial government.
“Rs.174.863 million loans advanced to private parties for the period from FY 1982-83 to FY 1992-93 were long outstanding for which the record is neither traceable nor recoverable,” this was disclosed during a briefing to Sindh Cabinet which met here Thursday July 27, 2023 with Chief Minister Murad Ali Shah in the chair, says an official handout.
The provincial cabinet in its third sitting within the last two weeks also decided to write off Rs.7.2 billion old loans advanced to different government departments and organizations.
The finance department said in briefing that Rs.7.2 billion loans advanced from 19982-83 to 2012-13 to the government department and organization may be written off as recommended by the Public Accounts Committee (PAC) and sub-committee on Finance.
The cabinet discussed the matter and approved the writing off the loan worth Rs.7.204280 billion outstanding against the government organization and directed the finance department to inquire into the loan of Rs.174.863 million advanced to the private organizations/parties.
The loans to be written off are as follows: Sindh Cooperatives Bank Rs.27.5 million, Forest Department Rs.4.5 million, Rs.62 million of Hyderabad Development Authority, HAD Rs.1.4 billion, Sindh Sugar Corporation Rs.40.12 million, Sindh Road Transport Corporation (SRTC) Rs.666.35, KTC Rs.249.2 million, KTC Rs.253.2 million, Local Government Naushehro Feroze for salaries Rs.30 million, Sui Southern Gas Company Ltd Rs.263.48 million, Kotri Surface Drain Rs.26.18 million, Hyderabad Electric Supply Company Rs.450,000, DCO Tharparkar Rs.44,895, KDA Rs.839.86 million, KDA Rs.221.13 million, Wapda Rs.162,01 million, Shah Latif University Khairpur Rs.900,000, Food Department Rs.9.52 million, Kotri Surface Drain Rs.4.39 million, Karachi Water & Server (KWSB) Rs.2.55 billion, DCO Hyderabad Rs.682.1 million and some others. (PR)
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